PGIM partners with iJoin to expand access to PGIM RetireWell™ Managed Accounts
PGIM, the $1.33 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU), has partnered with iJoin to expand access to PGIM RetireWell™ Managed Accounts. This integration combines PGIM's RetireWell™ Advice Engine with iJoin's goals-based user experience and portfolio allocation technology to offer a more personalized retirement planning journey for plan participants.
The PGIM RetireWell Managed Accounts, configurable as a plan's Qualified Default Investment Alternative (QDIA) or via opt-in, use proprietary methodology and patent-pending technology to create personalized retirement strategies based on individual data, preferences, and goals. The partnership aims to address the challenge of transforming savings into adequate, sustainable retirement income for American workers.
Available through iJoin-enabled recordkeepers, this collaboration offers financial advisors more product choices to make informed recommendations based on plan and participant suitability. The integration is expected to provide a highly differentiated user experience that addresses complex retirement planning needs while remaining intuitive for users.
PGIM, l'azienda di gestione degli investimenti globali da 1,33 trilioni di dollari di Prudential Financial, Inc. (NYSE: PRU), ha collaborato con iJoin per ampliare l'accesso ai PGIM RetireWell™ Managed Accounts. Questa integrazione combina il RetireWell™ Advice Engine di PGIM con l'esperienza utente basata sugli obiettivi e la tecnologia di allocazione del portafoglio di iJoin per offrire un percorso di pianificazione pensionistica più personalizzato per i partecipanti al piano.
Gli PGIM RetireWell Managed Accounts, configurabili come Qualificato Default Investment Alternative (QDIA) del piano o tramite opt-in, utilizzano una metodologia proprietaria e una tecnologia in attesa di brevetto per creare strategie pensionistiche personalizzate basate su dati individuali, preferenze e obiettivi. La partnership mira ad affrontare la sfida di trasformare i risparmi in un'adeguata e sostenibile entrata pensionistica per i lavoratori americani.
Disponibili tramite i recordkeeper abilitati da iJoin, questa collaborazione offre ai consulenti finanziari più scelte di prodotto per formulare raccomandazioni informate in base all'idoneità del piano e dei partecipanti. Si prevede che l'integrazione fornisca un esperienza utente altamente differenziata che soddisfi esigenze complesse di pianificazione pensionistica mantenendo un'interfaccia intuitiva per gli utenti.
PGIM, el negocio de gestión de inversiones globales de $1.33 trillones de Prudential Financial, Inc. (NYSE: PRU), se ha asociado con iJoin para expandir el acceso a las Cuentas Gestionadas PGIM RetireWell™. Esta integración combina el Motor de Asesoramiento RetireWell™ de PGIM con la experiencia del usuario basada en objetivos y la tecnología de asignación de portafolios de iJoin para ofrecer un viaje de planificación de jubilación más personalizado para los participantes del plan.
Las Cuentas Gestionadas PGIM RetireWell, configurables como la Alternativa de Inversión por Defecto Calificada (QDIA) de un plan o mediante opt-in, utilizan una metodología patentada y tecnología en trámite de patente para crear estrategias de jubilación personalizadas basadas en datos individuales, preferencias y metas. La asociación tiene como objetivo abordar el desafío de transformar los ahorros en ingresos de jubilación adecuados y sostenibles para los trabajadores estadounidenses.
Disponibles a través de custodios habilitados por iJoin, esta colaboración ofrece a los asesores financieros más opciones de productos para hacer recomendaciones informadas basadas en la idoneidad del plan y del participante. Se espera que la integración proporcione una experiencia del usuario altamente diferenciada que aborde las complejas necesidades de planificación de jubilación mientras se mantiene intuitiva para los usuarios.
PGIM은 Prudential Financial, Inc. (NYSE: PRU)의 1.33조 달러 규모의 글로벌 투자 관리 사업으로, iJoin과 협력하여 PGIM RetireWell™ 관리 계좌에 대한 접근을 확장했습니다. 이 통합은 PGIM의 RetireWell™ Advice Engine과 iJoin의 목표 기반 사용자 경험 및 포트폴리오 할당 기술을 결합하여 계획 참여자에게 보다 개인화된 은퇴 계획 여정을 제공합니다.
PGIM RetireWell 관리 계좌는 계획의 Qualified Default Investment Alternative (QDIA)로 설정 가능하거나 opt-in을 통해 개인 데이터, 선호도 및 목표에 기반한 개인화된 은퇴 전략을 창출하기 위해 독점 방법론과 특허 출원 중인 기술을 사용합니다. 이 파트너십은 미국 근로자들을 위한 적절하고 지속 가능한 은퇴 소득으로 저축을 전환하는 과제를 해결하는 것을 목표로 합니다.
iJoin이 지원하는 기록 관리를 통해 제공되는 이 협력은 금융 상담사들에게 계획 및 참여자의 적합성에 기반한 정보에 입각한 추천을 할 수 있는 더 많은 제품 선택지를 제공합니다. 통합은 사용자의 복잡한 은퇴 계획 요구를 다루면서도 직관적인 매우 차별화된 사용자 경험을 제공할 것으로 기대됩니다.
PGIM, l'entreprise de gestion d'investissements mondiale de 1,33 trillion de dollars de Prudential Financial, Inc. (NYSE: PRU), s'est associée à iJoin pour élargir l'accès aux Comptes Gérés PGIM RetireWell™. Cette intégration combine le Moteur de Conseil RetireWell™ de PGIM avec l'expérience utilisateur axée sur les objectifs et la technologie d'allocation de portefeuille d'iJoin pour offrir un parcours de planification de retraite plus personnalisé pour les participants au plan.
Les Comptes Gérés PGIM RetireWell, configurables en tant qu'Alternative d'Investissement par Défaut Qualifiée (QDIA) d'un plan ou via un opt-in, utilisent une méthodologie propriétaire et une technologie en instance de brevet pour créer des stratégies de retraite personnalisées basées sur des données individuelles, des préférences et des objectifs. Le partenariat vise à relever le défi de transformer les économies en un revenu de retraite adéquat et durable pour les travailleurs américains.
Disponibles via des gestionnaires de dossiers habilités par iJoin, cette collaboration offre aux conseillers financiers davantage de choix de produits pour formuler des recommandations éclairées basées sur l'adéquation du plan et des participants. L'intégration devrait fournir une expérience utilisateur hautement différenciée qui répond aux besoins complexes de planification de retraite tout en restant intuitive pour les utilisateurs.
PGIM, das 1,33 Billionen Dollar umfassende globale Investmentmanagement-Geschäft von Prudential Financial, Inc. (NYSE: PRU), hat sich mit iJoin zusammengeschlossen, um den Zugang zu PGIM RetireWell™ Managed Accounts zu erweitern. Diese Integration kombiniert die RetireWell™ Advice Engine von PGIM mit der zielorientierten Benutzererfahrung und der Portfoliotechnologie von iJoin, um den Teilnehmern des Plans eine persönlicher gestaltete Altersvorsorgeplanung zu bieten.
Die PGIM RetireWell Managed Accounts, die als Qualified Default Investment Alternative (QDIA) eines Plans konfiguriert oder durch Opt-in genutzt werden können, verwenden proprietäre Methoden und patentierte Technik, um personalisierten Rentenstrategien basierend auf individuellen Daten, Präferenzen und Zielen zu schaffen. Die Partnerschaft zielt darauf ab, die Herausforderung zu bewältigen, Einsparungen in angemessene, nachhaltige Altersruhegelder für amerikanische Arbeitnehmer umzuwandeln.
Über iJoin-fähige Record-Keeper verfügbar, bietet diese Zusammenarbeit Finanzberatern mehr Produktwahlmöglichkeiten, um fundierte Empfehlungen basierend auf der Eignung des Plans und der Teilnehmer abzugeben. Es wird erwartet, dass die Integration eine hochgradig differenzierte Benutzererfahrung bietet, die komplexe Bedürfnisse in der Altersvorsorgeplanung adressiert und gleichzeitig intuitiv für die Nutzer bleibt.
- Partnership with iJoin expands access to PGIM RetireWell™ Managed Accounts
- Offers personalized retirement strategies based on individual data and preferences
- Configurable as a plan's Qualified Default Investment Alternative (QDIA) or via opt-in
- Potential for better retirement outcomes and higher overall savings rates
- None.
Insights
The partnership between PGIM and iJoin to expand access to PGIM RetireWell™ Managed Accounts is a strategic move that could positively impact Prudential Financial's (PRU) retirement business segment. This collaboration aims to address the growing demand for personalized retirement planning solutions, which is a key trend in the industry.
Key points to consider:
- PGIM's
$1.33 trillion global investment management business adds significant credibility to this offering. - The integration with iJoin's platform could potentially increase PGIM's market reach and adoption rates among recordkeepers.
- Offering a Qualified Default Investment Alternative (QDIA) option may lead to higher assets under management, potentially boosting fee income.
- The focus on personalized advice at scale aligns with industry trends and could help PGIM differentiate its services in a competitive market.
While this partnership is promising, its impact on PRU's stock will depend on the rate of adoption and the revenue generated from these managed accounts over time. Investors should monitor future earnings reports for indications of growth in the retirement solutions segment attributable to this initiative.
The PGIM RetireWell™ Managed Accounts offering represents a significant advancement in personalized retirement planning technology. This solution addresses several critical challenges in the defined contribution (DC) space:
- It tackles the complex issue of transforming savings into sustainable retirement income, a major concern for many retirees.
- The use of proprietary methodology and patent-pending technology suggests a potential competitive advantage in personalization.
- Incorporation of health-related priorities in retirement planning is an innovative approach that could lead to more accurate long-term projections.
The integration with iJoin's user-friendly platform could drive higher engagement rates among plan participants. This is crucial, as increased engagement often correlates with improved savings rates and better retirement outcomes. The flexibility to serve as either a QDIA or an opt-in option provides plan sponsors with valuable choice in implementation.
Overall, this offering positions PGIM well in the evolving retirement solutions market, potentially leading to increased market share and revenue growth in their DC business segment.
New offering raises the bar on personalized advice at scale to help savers reach retirement goals
“The PGIM RetireWell Managed Accounts were created to solve for the retirement challenge that American workers face today — transforming savings into adequate, sustainable retirement income.” -- Michael Miller, Head of PGIM DC Solutions (Photo: Business Wire)
Configurable as a plan’s Qualified Default Investment Alternative (QDIA) or via opt-in, PGIM RetireWell Managed Accounts incorporate proprietary methodology and patent-pending technology to create a personalized retirement strategy based on each participant’s unique data, preferences and goals. Leveraging iJoin’s sophisticated yet intuitive user experience, the PGIM RetireWell Managed Account invites investors to fine-tune their income goal by expressing risk tolerance preferences as well as considering health-related priorities.
Michael Miller, head of PGIM DC Solutions, said: “The PGIM RetireWell Managed Accounts were created to solve for the retirement challenge that American workers face today — transforming savings into an adequate, sustainable stream of retirement income. PGIM’s highly personalized solution offers the innovation employers need for better retirement outcomes for their plan participants.”
Steve McCoy, CEO of iJoin, remarked: “We admire the significant investment the PGIM team has made in developing an advisor-led managed account experience that more holistically factors an individual’s unique and changing circumstances. Together, we’re able to present a highly differentiated user experience that addresses underlying complexities while remaining intuitive.”
There is growing evidence that managed advice is desired by a majority of plan participants2 and can lead to higher overall savings rates.3
Since 2020, iJoin has integrated its data-driven, goals-based participant experience with leading providers of managed account programs, in-plan income, and IRA rollover solutions. Available through a growing number of retirement plan recordkeepers, financial advisors now enjoy unparalleled product choice with which to make informed recommendations based on plan and participant suitability.
The PGIM RetireWell Managed Accounts are part of PGIM RetireWell™ Solutions, a suite of tools, products and solutions developed to help defined contribution plan participants achieve better retirement outcomes through holistic advice and guidance.
Please contact PGIM DC Solutions for more program information for plan recordkeepers and plan advisors.
ABOUT PGIM DC SOLUTIONS
As the retirement solutions provider of PGIM, PGIM DC Solutions seeks to deliver innovative defined contribution solutions founded on market-leading research and capabilities. Our highly experienced team partners with clients on customized solutions to solve for retirement income. As of June 30, 2024, PGIM has
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 41 offices across 18 countries, our more than 1,400 investment professionals serve both retail and institutional clients around the world.
As a leading global asset manager with
Prudential Financial, Inc. (PFI) of
ABOUT LDI-MAP, LLC (dba iJoin)
iJoin is a leading retirement plan infrastructure technology partner supporting cost-efficient personalized managed account programs, built-in plan health analytics and reporting tools, financial education and wellness, access to guaranteed income products, and IRA rollovers. We're built to help financial advisors differentiate and win. LDI-MAP (d.b.a. iJoin) is a registered investment advisor with the
1 The term PGIM as used in this announcement includes PGIM DC Solutions LLC, an indirect wholly owned subsidiary of PGIM, Inc.
2 Source: The 2022 BlackRock Read on Retirement,
3 Source: Transamerica: Managed Accounts in Retirement Plans; Measuring the impact of a personalized, goal-based retirement strategy, 2023, page 6.
4 Reported data reflect the assets under management by PGIM and its investment adviser affiliates for defined contribution investment purposes only.
5 As of June 30, 2024
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact a financial professional.
PGIM DC Solutions LLC ("PGIM DC Solutions") is an SEC-registered investment adviser, a
PGIM DC Solutions aims to help participants achieve their retirement goals through their suite of “PGIM RetireWell™” solutions. These solutions may include a range of investment options including target date portfolios, retirement spending strategies, and managed accounts powered by our proprietary advice engine. There is no guarantee that investment or retirement goals will be achieved. Use of the term “RetireWell” and any related phrase is not intended to indicate that such goals will be achieved.
© 2024 Prudential Financial, Inc. and its related entities. Prudential, the Rock symbol, and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
PGIM DCS – 3888440
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240930573133/en/
MEDIA CONTACTS
PGIM:
Kylie Scott
+1 908 313 5332
kylie.scott@pgim.com
iJoin:
Alan Gross
GSM Marketing
+ 1 904 565 2959
alan.gross@gsm.marketing
Source: Prudential Financial, Inc.
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